ICYMI: Security and ATOs…

ICYMI is an ongoing series of blog posts memorializing important Twitter threads from thought leaders at Coinbase and beyond. In this thread from 08/26/2021, Coinbase CSO Phillip Martin shares some ATO wisdom.

A headshot of Philip Martin, Coinbase CSO, smiling in a grey button-up and navy quarter-zip vest
@SecurityGuyPhil

ATOs are a real problem. Nearly 25% of U.S. households have been victims, financial losses average $12,000, according to http://Security.org <.01% of Coinbase users experience these events, but they are the most complex cases we deal with.

We work hard to minimize ATOs on Coinbase, but the reality is attackers have a large profit motive and prey on both technology gaps (e.g. SIM swaps ) and human psychology. It’s unlikely that any financial platform of any scale will ever be entirely ATO-free.

We know we have a lot of work to do to make the experience better for those customers who do experience an ATO, and we’ve launched live phone support immediately as a first step.

Ultimately, the best way for a consumer to protect themselves against ATOs anywhere is to use the strongest 2fa available ( sms < totp < yubikey ) and a password manager.

See also: How to keep your crypto secure.

*We’ve added links where appropriate. You can see original thread here .

ICYMI: Security and ATOs… | Cryptocurrency Trading Signals, Strategies & Templates | DexStrats
ICYMI: Security and ATOs… | Cryptocurrency Trading Signals, Strategies & Templates | DexStrats

ICYMI: Security and ATOs… was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

ICYMI: Security and ATOs…
DexStrats 16 September, 2021
Share this post
Archive
Braintrust (BTRST) is launching on Coinbase Pro